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Gas Prices Going Up
Thursday 17th March 2011 (15:22 GMT)
Prior to the earthquake and tsunami, 13% of Japan's electricity came from their now shut down nuclear plants. The country is struggling to prevent a meltdown. Yesterday it looked like the worst was over. Today, there is growing concern that the government is concealing the true extent of the problem, as helicopters dump tons of sea water on the over heating reactors.
Coal and especially Gas imports are going to be used to make up the electricity generation shortfall. Gas prices have risen sharply since Japan suffered it's worst Earthquake in recorded history.
Bahrain unrest. Police have shot protestors. Killing and wounding their own civilians. Libyan civil war. Other countries in the oil rich area experiencing or are showing potential for unrest. Japanese consumption of oil uncertain for the long term. Oil prices holding steady... for now.
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